Spyre Therapeutics, Inc. (NASDAQ:SYRE) Given Average Recommendation of "Buy" by Brokerages

Shares of Spyre Therapeutics, Inc. (NASDAQ:SYRE - Get Free Report) have been assigned a consensus recommendation of "Buy" from the ten analysts that are currently covering the company, Marketbeat reports. Eight equities research analysts have rated the stock with a buy recommendation and two have issued a strong buy recommendation on the company. The average 12-month price objective among analysts that have covered the stock in the last year is $49.57.

SYRE has been the topic of several recent analyst reports. Leerink Partners assumed coverage on Spyre Therapeutics in a research note on Tuesday. They set an "outperform" rating and a $45.00 price objective on the stock. Leerink Partnrs raised shares of Spyre Therapeutics to a "strong-buy" rating in a research report on Tuesday. Wolfe Research began coverage on shares of Spyre Therapeutics in a research report on Tuesday, March 18th. They issued an "outperform" rating and a $27.00 price objective for the company. Wedbush reissued an "outperform" rating and set a $65.00 target price on shares of Spyre Therapeutics in a research report on Monday, January 13th. Finally, The Goldman Sachs Group raised Spyre Therapeutics to a "strong-buy" rating in a report on Tuesday, February 18th.

Hedge Funds Weigh In On Spyre Therapeutics

Several institutional investors and hedge funds have recently bought and sold shares of SYRE. GAMMA Investing LLC purchased a new position in shares of Spyre Therapeutics during the 1st quarter valued at $70,000. Wellington Management Group LLP lifted its holdings in Spyre Therapeutics by 6.5% during the fourth quarter. Wellington Management Group LLP now owns 1,604,508 shares of the company's stock valued at $37,353,000 after purchasing an additional 97,308 shares during the last quarter. California State Teachers Retirement System boosted its position in Spyre Therapeutics by 32.1% during the fourth quarter. California State Teachers Retirement System now owns 32,598 shares of the company's stock worth $759,000 after purchasing an additional 7,923 shares during the period. Universal Beteiligungs und Servicegesellschaft mbH purchased a new position in shares of Spyre Therapeutics in the fourth quarter worth about $2,844,000. Finally, GF Fund Management CO. LTD. purchased a new position in shares of Spyre Therapeutics in the fourth quarter worth about $29,000. 80.39% of the stock is owned by institutional investors.

Spyre Therapeutics Trading Up 2.4 %

Shares of SYRE traded up $0.29 on Tuesday, reaching $12.22. The company's stock had a trading volume of 599,414 shares, compared to its average volume of 584,222. Spyre Therapeutics has a twelve month low of $10.91 and a twelve month high of $40.84. The stock has a market capitalization of $736.34 million, a PE ratio of -1.64 and a beta of 3.05. The firm has a fifty day moving average of $18.46 and a 200-day moving average of $24.29.

Spyre Therapeutics (NASDAQ:SYRE - Get Free Report) last issued its quarterly earnings data on Thursday, February 27th. The company reported ($0.81) EPS for the quarter, topping the consensus estimate of ($0.89) by $0.08. As a group, equities analysts anticipate that Spyre Therapeutics will post -4.46 EPS for the current fiscal year.

About Spyre Therapeutics

Spyre Therapeutics, Inc, a preclinical stage biotechnology company, focuses on developing therapeutics for patients living with inflammatory bowel disease (IBD). It develops SPY001, a human monoclonal immunoglobulin G1 antibody designed to bind selectively to the a4ß7 integrin being developed for the treatment of IBD (ulcerative colitis and Crohn's disease).